Europe (Jan – Feb) 2021

Malaysian Palm Oil Exports Performance to Europe Region
(Jan – Feb 2021)
A Review on MPO Performance

Table 1: A Review on MPO Export Performance (MT)

 Jan-Feb 2021Jan-Feb 2020Change (Vol.)Change (%)Jan-Dec 2020
 Netherlands 126,564188,716-62,152-32.931,072,952
 Italy 25,46561,469-36,004-58.57439,053
 Spain 17,82140,098-22,277-55.56198,287
 Sweden 14,12513,2019247103,440
 Greece 8,7055,7332,97251.8416,006
 Denmark 7,2417,695-454-5.952,832
 Germany 2,8937,367-4,474-60.7321,462
 Georgia 2,1147,079-4,964-70.1319,470
 Ukraine 2,03917,969-15,930-88.6549,697
 UK 1,1572,844-1,687-59.3315,505
 Belgium 1,023473549116.023,174
 Russia 8531,666-813-48.7810,967
 Croatia 7586887010.177,999
 Romania 6611,337-677-50.616,559
 Switzerland 34543302705.16971
 France 672938132.43259
 Bulgaria 472,485-2,437-98.0910,706
 Macedonia 47139-92-66.14817
 Norway 232344
 Albania 19254-236-92.711,599
 Portugal 1358149.02328
 Lithuania 2297
 Austria 60
 Bosnia-Hercegovina24-24-10047
 Cyprus 42
 Estonia 24
 France 259
 Hungary 238-238-1001,451
 Latvia 128-128-1001,794
 Moldova 162
 Poland 105-105-100516
 Serbia & Montenegro 29-29-1001,172
 Slovenia 46
 Grand Total 211,982359,814-147,832-41.092,037,797
Source: MPOB

Source: MPOB

From January to February 2021, Malaysian palm oil export to the Europe region was recorded at 211,982 MT, a decrease of 147,832 MT or by 41.09% from 359,814 MT recorded during the same period of 2020. The main reason for the drop was due to lower imports particularly by Italy, Netherlands and Spain as the high stocks during the end of 2020 and lower demand from the food manufacturing sector as well as lower demand from the biodiesel sector. Netherlands, Spain and Italy continue to be top three biggest destinations of Malaysian palm oil in the EU. In Italy, consumption of palm oil is practically the same as the newly opened biofuels plants went into full operation to fulfil compulsory blending mandates this year. This plant has the capacity to process 750,000 MT of virgin vegetable oils and waste fats and oils on annual basis.

Netherlands is the leading importer of Malaysian palm oil in this region with 126,564 MT, but this is a decrease of 62,152 MT or by 32.93% compared to the same period of 2020. This lower import volume can be attributed to the increased demand for Indonesian processed palm oil as the new tax structure enforced from January 2021 made their refined and processed products cheaper compared to Malaysia. In addition, demand normally slows down in January as most countries will take a survey of stock levels to prevent overbuying. Nevertheless, strong is expected as the widening price spread between soybean oil and palm oil in the recent weeks will see a renewed interest in palm oil. Netherlands is expected to remain firm as a palm oil importing country as they are the main hub for palm oil to be re-exported to other countries in the Europe region.

Breakdown of MPO Exports (MT)

Exports of certified palm oil (RSPO and ISCC certified) into the EU continue to be the biggest component of Malaysian palm oil exports to Europe, comprising 52% of the total. Higher uptakes are recorded mostly into Netherlands, Germany and Italy where palm oil is utilized in the energy sector. One of the reasons for the lower exports of Malaysian palm oil was due to competition from Indonesia since they changed their export duty structure for refined products. This is in addition to the discounts given by Indonesian suppliers as according to industry sources, Indonesian suppliers have been aggressively offering discounted prices of their refined products in the European market, thus reducing the intake of supplies from Malaysia.

Malaysia’s Export to EU-28 – Breakdown by Palm Products (MT)
 Jan-Feb
2021
Jan-Feb
2020
Change
(Vol.)
Change
(%)
CPO FOR RSPO FROM SEGREGATED &
INT SUSTAINABILITY N CARBON CERTIFICATION
37,3843,00434,3801,144.32
CPO31,47397,019(65,547)(67.56)
     
CPO INTERNATIONAL SUSTAINABILITY
AND CARBON CERTIFICATION
26,57452,717(26,143)(49.59)
RBD PS28,12938,497(10,368)(26.93)
PFAD19,32312,8926,43149.88
RBD PO11,32524,883(13,558)(54.49)
PAO11,27923,883(12,604)(52.77)
PMF / RBD PMF9,12514,928(5,802)(38.87)
RBD PL8,15614,734(6,578)(44.65)
NBD PL7,4109,148(1,738)(19.00)
RBDPS FOR RSPO FROM SEGREGATED7,3964936,9031,400.02
RBDPO FOR RSPO FROM SEGREGATED3,5003,500
OTHERS10,90767,615(56,707)(83.87)
GRAND TOTAL211,982359,814(147,832)(41.09)
Source: MPOB

Chart 1 : Breakdown of MPO Exports (MT)

Source: MPOB

For more info please contact Mr Izham: izham@mpoc.org.my

*Disclaimer: This document has been prepared based on information from sources believed to be reliable but we do not make any representations as to its accuracy. This document is for information only and opinion expressed may be subject to change without notice and we will not accept any responsibility and shall not be held responsible for any loss or damage arising from or in respect of any use or misuse or reliance on the contents. We reserve our right to delete or edit any information on this site at any time at our absolute discretion without giving any prior notice.

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